Currency trading range in 2023

The monetary policy of the state in 2023 is one of the topics of the Committee on Economic Policy. The Central Bank traditionally submits a document approved by the Banking Council for consideration to the Supreme Council. The main principles have remained unchanged this year, said Deputy Chairman of the Pridnestrovian Republican Bank Alexey Melnik.

The Central Bank will continue to sell and buy foreign currency to maintain the national currency at a predetermined level. The US dollar currency trading range will also remain at the level of the previous year – from 16.10 to 16.50 rubles for one dollar. The Pridnestrovian Republican Bank forecasts the current account to be at a minimum positive level. This in turn will allow balancing the foreign exchange market in Pridnestrovie.

Alexey Melnik said that the main instrument of monetary policy this year will be exchange rate intervention. As for other aspects, an important innovation is that the law on consumer credit will come into force in February. It will regulate relations arising in connection with the provision of a loan to an individual. The maximum interest rate on the loan and the obligation to explain the terms of the loan to the borrower in more detail will now be set.

The deputies will consider the main provisions of the monetary policy at the next plenary meeting, where they will have to adopt an appropriate resolution.

As for other issues that the deputies of the Committee on Economic Policy, Budget and Finance considered at the meeting today, it was about introducing amendments and additions to the law on the budget for 2022. Amendments are being made to the budget of the Unified State Social Insurance Fund. This is due to the receipt of humanitarian aid from Russia and a one-time payment to Pridnestrovian pensioners from the Sheriff company.